David Greenspan Slate Path Capital
David Greenspan is the founder of Slate Path Capital, a long/short equity firm with roots in the Tiger Management network. The firm conducts fundamental research across sectors with an emphasis on differentiated views rather than index hugging. Greenspan’s filings attract attention among investors who follow Tiger Cub-style managers.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
PayPal
PYPL
|
+$151M |
| 2 |
TripAdvisor
TRIP
|
+$80.9M |
| 3 |
Zillow
Z
|
+$35.7M |
| 4 |
Kinder Morgan
KMI
|
+$24.5M |
| 5 |
Oneok
OKE
|
+$24.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ANDV
Andeavor
ANDV
|
+$136M |
| 2 |
YOKU
YOUKU TUDOU INC.(CAYMAN ISLS)
YOKU
|
+$65.1M |
| 3 |
IPXL
Impax Laboratories, Inc.
IPXL
|
+$25.9M |
| 4 |
Charter Communications
CHTR
|
+$9.55M |
| 5 |
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
|
+$9.27M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 23.44% |
| 2 | Healthcare | 20.81% |
| 3 | Energy | 18.73% |
| 4 | Financials | 18.51% |
| 5 | Consumer Discretionary | 9.24% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
PayPal
PYPL
$52.7B
| $171M | 18.51% |
4,725,000
+4,275,000
| +950% | +$151M |
|
|
2
Charter Communications
CHTR
$17.9B
| $126M | 13.67% |
690,000
-51,600
| -7% | -$9.55M |
|
|
ANDV
3
DELISTED
Andeavor
ANDV
| $105M | 11.34% |
995,000
-1,265,000
| -56% | -$136M |
|
4
Insulet
PODD
$10.3B
| $103M | 11.13% |
2,720,000
| – | – |
|
5
VanEck Gold Miners ETF
GDX
$31.8B
| $85.6M | 9.26% |
6,240,000
-630,000
| -9% | -$9.15M |
|
|
6
TripAdvisor
TRIP
$1.17B
| $85.4M | 9.24% |
+1,002,273
| New | +$80.9M |
|
7
Alnylam Pharmaceuticals
ALNY
$31.6B
| $68.3M | 7.38% |
725,000
+130,000
| +22% | +$12.1M |
|
|
8
Zillow
Z
$8.07B
| $56M | 6.06% |
2,385,000
+1,350,000
| +130% | +$35.7M |
|
|
TWC
9
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $34.3M | 3.71% |
185,000
-50,000
| -21% | -$9.27M |
|
|
MDCO
10
DELISTED
Medicines Co
MDCO
| $21.3M | 2.3% |
+570,000
| New | +$21.5M |
|
|
11
Oneok
OKE
$58.8B
| $19.9M | 2.15% |
+805,000
| New | +$24.2M |
|
12
Williams Companies
WMB
$86.2B
| $17M | 1.84% |
+660,000
| New | +$23.1M |
|
|
CPGX
13
DELISTED
COLUMBIA PIPELINE GROUP IN COM STK (DE)
CPGX
| $16.1M | 1.74% |
+805,000
| New | +$16M |
|
|
14
Kinder Morgan
KMI
$69B
| $15.4M | 1.66% |
+1,030,000
| New | +$24.5M |
|
15
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| – | – |
-700,000
| Closed | -$134M |
|
|
IPXL
16
DELISTED
Impax Laboratories, Inc.
IPXL
| – | – |
-735,000
| Closed | -$25.9M |
|
|
YOKU
17
DELISTED
YOUKU TUDOU INC.(CAYMAN ISLS)
YOKU
| – | – |
-3,690,000
| Closed | -$65.1M |
|
Similar funds
David Greenspan's Q4 2015 Portfolio in Review
As of Q4 2015, David Greenspan held 17 positions worth $924M, up 6% from $872M the previous quarter. Its ten largest holdings account for 93% of the portfolio.
David Greenspan's Q4 2015 filing shows 6 new, 3 increased, 4 reduced and 3 closed positions. Its largest new stake was TripAdvisor: 1,002,273 shares worth $85.4M. The largest sale was Andeavor, an estimated $136M.
By sector, the portfolio is most concentrated in Communication Services at 23% of assets, up from 23% a quarter earlier, followed by Healthcare and Energy.
- David Greenspan's largest Q4 2015 buy was TripAdvisor: 1,002,273 shares worth $85.4M.
- David Greenspan added most to PayPal in Q4 2015, an estimated $151M increase.
- David Greenspan's biggest Q4 2015 reduction was Andeavor, cutting an estimated $136M.
- David Greenspan fully exited YOUKU TUDOU INC.(CAYMAN ISLS) in Q4 2015, selling an estimated $65.1M.
- David Greenspan's ten largest holdings make up 93% of its $924M portfolio in Q4 2015.
- David Greenspan opened 6 new positions and closed 3 in Q4 2015.
- David Greenspan's portfolio value rose 6% quarter-over-quarter to $924M.
Based on Slate Path Capital's 13F filing for Q4 2015, filed 16 Feb 2016.